WASHINGTON, June 13, 2024 (GLOBE NEWSWIRE) — ASP Isotopes Inc. NASDAQ: ASPI, an advanced materials company dedicated to the development of technology and processes for the production of isotopes for use in multiple industries, today announced the appointment of Heather Kiessling as its chief financial officer (CFO), effective as of July 1, 2024 (or such earlier date as may be mutually agreed), to support the Company’s next pivotal phase of growth. Robert Ainscow, who currently serves as the Company’s CFO and chief operating officer (COO), will continue to serve as the Company’s COO, enabling him to focus his full time and attention on the Company’s operations and strategic initiatives.
“We have been laser-focused on cost management since the Company’s inception and have outsourced many roles. As the Company progresses from being a pre-commercial company to a Company generating revenues, we require greater financial infrastructure,” said Paul Mann, Executive Chairman and Chief Executive Officer of ASP Isotopes.
“We are thrilled to welcome Ms Kiessling as our new CFO,” added Robert Ainscow, CFO and COO. “Her expertise in financial controls and experience as an operational CFO with a track record of successful implementation of strategic plans in corporate operations across several functional areas, such as human resources, finance and accounting, research and development, manufacturing, quality, sales and marketing departments, ideally complement our executive management team.”
Ms. Kiessling has joined the Company from Danforth Advisors LLC, a life science financial strategy consultancy, where she has been providing consulting and advisory services to ASP Isotopes since November 2021. Prior to joining Danforth Advisors, Ms. Kiessling held finance leadership roles at Cytonome/ST, LLC and AutoImmune Inc. Ms. Kiessling is a CPA and holds a B.A. in management science from University of California, San Diego, and an M.B.A. from University of Michigan Graduate School of Business.
“I am excited to join ASP Isotopes during this important stage of corporate growth, commercialization and considerable progress in R&D. It represents a unique and exciting opportunity given the Company’s important goals of delivering enriched isotopes for the nuclear medicine, green nuclear energy and semiconductor industries,” added Ms. Kiessling.
Inducement Grants
In connection with her appointment, effective as of her employment start date, the Company granted Ms. Kiessling 400,000 shares of the Company’s common stock. Subject to Ms. Kiessling being continuously employed by the Company through each applicable vesting date, the shares will vest in eight equal instalments over four years, with 50,000 shares vesting on each of the six-month anniversaries of Ms. Kiessling’s employment start date. This restricted stock award was approved by the Company’s Compensation Committee and Board of Directors and granted under the Company’s 2024 Inducement Equity Incentive Plan as an inducement material to Ms. Kiessling entering into employment with ASP Isotopes, in accordance with Nasdaq Listing Rule 5635(c)(4). The Company is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About ASP Isotopes Inc.
ASP Isotopes Inc. is a development stage advanced materials company dedicated to the development of technology and processes to produce isotopes for use in multiple industries. The Company employs proprietary technology, the Aerodynamic Separation Process (“ASP technology”). The Company’s initial focus is on producing and commercializing highly enriched isotopes for the healthcare and technology industries. The Company also plans to enrich isotopes for the nuclear energy sector using Quantum Enrichment technology that the Company is developing. The Company has isotope enrichment facilities in Pretoria, South Africa, dedicated to the enrichment of isotopes of elements with a low atomic mass (light isotopes).
There is a growing demand for isotopes such as Silicon-28, which will enable quantum computing, and Molybdenum-100, Molybdenum-98, Zinc-68, Ytterbium-176, and Nickel-64 for new, emerging healthcare applications, as well as Chlorine-37, Lithium-6, and Uranium-235 for green energy applications. We believe the ASP technology (Aerodynamic Separation Process) is ideal for enriching low and heavy atomic mass molecules. For more information, please visit www.aspisotopes.com.
